KUALA LUMPUR: Kinergy Advancement Bhd
(KAB) has acquired a 47.5% stake in indendent power producer Jati Cekerawala Sdn Bhd, a wholly-owned subsidiary of Pesaka Ventures Sdn Bhd, for RM35mil.
KAB said in a statement it will assume the role as one of the project developers, alongside other stakeholders, in driving the repowering of a 650MW power plant.
The power plant, situated on a 37.5-hectare coastal site in Perlis, is owned by Teknologi Tenaga Perlis Consortium Sdn Bhd (TTPC),
The plant successfully completed its 21-year power purchase agreement (PPA) and was
decommissioned in March 2024.
KAB executive deputy chairman and group managing director Datuk Lai Keng Onn said the strategic value of the acquisition is rooted in the robust energy infrastructure established in the past.
"Its proximity to TNB’s 275kV transmission line and the Peninsular Gas Utilisation (PGU) III pipeline ensures seamless access to both power
distribution and natural gas supply.
"Additionally, the availability of a reliable water source at the site further confirms that this land is primed for the development of a
new power plant," he said.
KAB anticipates the project will make a significant and sustainable contribution to its earnings growth.
